LONDON, June 23, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the smart irrigation market, the rise in the adoption of smart technologies is considered a key trend in the smart irrigation market. Major companies operating in the market are adopting new technologies such as remote sensing to sustain their position. For instance, in 2020, Netafim, an Israeli-based company that manufactures irrigation equipment, collaborated with FluroSat, a remote field sensing and analytics company. The collaboration allowed Flurostat’s remote sensing technology to combine with Netafim’s automated irrigation for improved irrigation and crop management. The unique remote sensing platform helps in determining the stress on plants by analyzing the aerial images taken. This technology is helping farmers proactively manage their crops.
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The global smart irrigation market size is expected to grow from $1.16 billion in 2021 to $1.38 billion in 2022 at a compound annual growth rate (CAGR) of 18.9%. The global smart irrigation market share is expected to reach $2.43 billion in 2026 at a CAGR of 15.3%.
The growth of smart cities is significantly contributing to the growth of the applications of smart irrigation system going forward. The increase in the importance of efficient watering solutions for non-agricultural practices and farming crops market is the major driving factor in this market. As smart cities are the ongoing trend in major parts of the world, they emphasize efficient management of water practices for both commercial and residential spaces. For instance, according to Cities Today, a US-based magazine, the number of smart city projects in 2020 grew by 14% from 2019 and is expected to increase at a faster rate in 2023 and 2024. Therefore, an increase in smart cities helps in the growth of the smart irrigation market.
Major players in the smart irrigation market are AquaSpy, Calsense, Galcon, Hunter Industries, HydroPoint, Netafim, Rachio, Rain Bird Corporation, Stevens Water Monitoring Systems, The Toro Company, Weathermatic, Banyan Water, Caipos, Delta-T Devices, Jain Irrigation Systems, Manna irrigation, Orbit Irrigation, and Soil Scout.
The global smart irrigation market is segmented by type into climate-based, sensor-based; by technology into, evapotranspiration, soil moisture; by component into sensors, controllers, water flow meters, software, others; by end-user into agriculture, golf course, residential, others.
As per TBRC’s smart irrigation market growth analysis, North America is the largest region in the market. The regions covered in the global smart irrigation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Smart Irrigation Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide smart irrigation market overviews, smart irrigation market analyze and forecast market size and growth for the whole market, smart irrigation market segments and geographies, smart irrigation market trends, smart irrigation market drivers, smart irrigation market restraints, smart irrigation market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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